Housing bubble in Australia
Mar 3rd 2010, 1:52 pm
#707
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Joined: May 2007
Location: Sydney
Posts: 564
Re: Housing bubble in Australia
Mar 3rd 2010, 2:33 pm
#708
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Joined: Feb 2008
Location: Hope Island, Gold Coast
Posts: 1,920
Mar 3rd 2010, 3:28 pm
#709
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Joined: Mar 2009
Location: SE suburbs,Vic
Posts: 828
Re: Housing bubble in Australia
If Sydney has to beat NewYork in real estate and Melbourne has to defeat Moscow then we need bigger price rises. Hope the bubble continues.... 
Mar 4th 2010, 6:44 am
#710
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Posts: n/a
Re: Housing bubble in Australia
I used the actual RP Data graphs to highlight the point.
RP data showed one of these graphs themselves at April 2009, another in November 2009 and if you check again in April 2010, you will see them showing the third one.
What figures have I manipulated ?
I have played with them by showing them in a different order, to emphasise how people can make mistakes by using some of this data.
It even shows how some people get so confused that they can't see the obvious.
Mar 4th 2010, 10:06 pm
#711
Banned
Joined: May 2007
Location: Sydney
Posts: 564
Re: Housing bubble in Australia
I didn't manipulate ANY figures, nor did I say I did.
I used the actual RP Data graphs to highlight the point.
RP data showed one of these graphs themselves at April 2009, another in November 2009 and if you check again in April 2010, you will see them showing the third one.
What figures have I manipulated ?
I have played with them by showing them in a different order, to emphasise how people can make mistakes by using some of this data.
It even shows how some people get so confused that they can't see the obvious.
I used the actual RP Data graphs to highlight the point.
RP data showed one of these graphs themselves at April 2009, another in November 2009 and if you check again in April 2010, you will see them showing the third one.
What figures have I manipulated ?
I have played with them by showing them in a different order, to emphasise how people can make mistakes by using some of this data.
It even shows how some people get so confused that they can't see the obvious.
Mar 5th 2010, 4:01 am
#714
BE Forum Addict
Joined: Mar 2009
Posts: 1,412
Re: Housing bubble in Australia
I wonder where that $510,000 came from ? The trusted RP Data by any chance ? The group who say prices have NOT risen ?
Doing a quick search, it appears I did use it here, Jan 29th, to show how the medians vary a lot between the different sources. emphasising the "accuracy" of the figures
And here Feb 9th
Something from todays releases, for Australia.
http://www.abcdiamond.com/images/2010-aus-mort.png
The % of household income for the mortgage seems to say something...
Doing a quick search, it appears I did use it here, Jan 29th, to show how the medians vary a lot between the different sources. emphasising the "accuracy" of the figures
And here Feb 9th
Something from todays releases, for Australia.
http://www.abcdiamond.com/images/2010-aus-mort.png
The % of household income for the mortgage seems to say something...
1990 to 2000
Average House Price increased by 176.9%
Average Monthly Mortgage Repayment increased by 85.9%
Average Household Monthly income increased by 117.3%
1990 to 2010
Average House Price increased by 435.2%
Average Monthly Mortgage Repayment increased by 172.1%
Average Household Monthly income increased by 204.2%
Average House Price increased by 176.9%
Average Monthly Mortgage Repayment increased by 85.9%
Average Household Monthly income increased by 117.3%
1990 to 2010
Average House Price increased by 435.2%
Average Monthly Mortgage Repayment increased by 172.1%
Average Household Monthly income increased by 204.2%
The figures appear incorrect for average monthly income increase. The correct figures would be 17% from 1990 to 2000 and 104% from 1990 to 2010.
and for average monthly mortgage payment increase. The correct figures would be 14% decline from 1990 to 2000 and 41% increase from 1990 to 2010.
and for average house price increase. The correct figures would be 76% increase from 1990 to 2000 and 335% increase from 1990 to 2010.
Last edited by Steve2009; Mar 5th 2010 at 4:10 am.
Mar 5th 2010, 4:40 am
#715
Banned
Joined: May 2007
Location: Sydney
Posts: 564
Re: Housing bubble in Australia
I prepared a response to this but it went missing.
The figures appear incorrect for average monthly income increase. The correct figures would be 17% from 1990 to 2000 and 104% from 1990 to 2010.
and for average monthly mortgage payment increase. The correct figures would be 14% decline from 1990 to 2000 and 41% increase from 1990 to 2010.
and for average house price increase. The correct figures would be 76% increase from 1990 to 2000 and 335% increase from 1990 to 2010.
The figures appear incorrect for average monthly income increase. The correct figures would be 17% from 1990 to 2000 and 104% from 1990 to 2010.
and for average monthly mortgage payment increase. The correct figures would be 14% decline from 1990 to 2000 and 41% increase from 1990 to 2010.
and for average house price increase. The correct figures would be 76% increase from 1990 to 2000 and 335% increase from 1990 to 2010.
Mar 5th 2010, 4:42 am
#716
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Joined: Mar 2009
Posts: 1,412
Re: Housing bubble in Australia
I haven't read enough of the thread to comment on that but the figures posted were glaringly inaccurate. I'm also noting the lack of a reference or cited source, other than Suncorp. (i.e. a link, or published source)
Last edited by Steve2009; Mar 5th 2010 at 4:47 am.
Mar 5th 2010, 6:07 am
#717
Guest
Posts: n/a
Re: Housing bubble in Australia
I wonder if this topic will still be running in 20 years time...
The subject certainly is....
The subject certainly is....
Mar 5th 2010, 6:24 am
#718
Guest
Posts: n/a
Re: Housing bubble in Australia
http://www.theaustralian.com.au/busi...-1225832325185
Mar 5th 2010, 6:35 am
#719
Guest
Posts: n/a
Re: Housing bubble in Australia
I prepared a response to this but it went missing.
The figures appear incorrect for average monthly income increase. The correct figures would be 17% from 1990 to 2000 and 104% from 1990 to 2010.
and for average monthly mortgage payment increase. The correct figures would be 14% decline from 1990 to 2000 and 41% increase from 1990 to 2010.
and for average house price increase. The correct figures would be 76% increase from 1990 to 2000 and 335% increase from 1990 to 2010.
The figures appear incorrect for average monthly income increase. The correct figures would be 17% from 1990 to 2000 and 104% from 1990 to 2010.
and for average monthly mortgage payment increase. The correct figures would be 14% decline from 1990 to 2000 and 41% increase from 1990 to 2010.
and for average house price increase. The correct figures would be 76% increase from 1990 to 2000 and 335% increase from 1990 to 2010.
eg: the 1990 to 2000 was $110,600 x 1.76 to $194,656 = 76% rise, but the spreadsheet had the 176% figure, and I didn't change it to show just the rise.
Actual spreadsheet copy:
$110,600.00 x 176.9% = $195,651.40 or a 76.9% rise
Same with all the figures you mentioned.
